this is the "cbs morning news" for thursday, december 1st, 2011. good morning, everybody. good to be with you. i'm terrell brown. on wall street, they call this a santa claus rally and the reindeer were pulling extra hard on wednesday. the dow surged by 490 points, the seventh largest gain of all time. the last three days the dow up 7.25% and putting it firmly in the black for the year. the question is this rally for real? ashley morrison has that and more. >> reporter: that big rally continued this morning overseas. markets across asia soared following wall street's lead. hong kong's hang sang jumped more than 5% while tokyo's nikkei up more than 2%. the european markets looked poised for another up day. wednesday's rally was kicked off by a coordinated global effort to cut off panic.

central banks of europe, england, japan, canada and switzerland to cut the borrowing dollars for european banks. the hope that will ease the strain in the markets. certainly did major on wall street. all of the major indices rose more than 4% yesterday but the fed warned the move isn't a long-term solution. >> it solved the immediate problem and the immediate problem was making sure we didn't have a failure of a major financial institution that could have caused lehman brothers types impacts on the global marketplace. >> reporter: and it wasn't just the fed's move that put a jolt into the markets. we are seeing positive developments on the labor front. private employers added 206,000 jobs last month and the that is raising hope. we got a rare piece of good news on the housing market. the number of americans who signed contracts to buy homes jumped 10% in october to the highest level in a year.

today the markets will likely be moved by the weekly jobless claim numbers. we will also get the latest on consumer spending with reports on retail and auto sales so it should be another busy day on wall street. >> we don't talk a lot about good news, ash. >> no. >> good to see you. thank you. politics now. the latest allegations of sexual misconduct. herman cain says he'll decide by next week whether to continue his campaign. the decision hinges on a meeting with his wife tomorrow. >> reporter: his political losses seem to be turning into gains for another candidate. herman cain isn't ready to call it quits. >> it ain't over until it's over and it ain't over yet. >> reporter: wednesday, he told new hampshire supporters he'll decide whether to continue his white house run after talking to his wife in person tomorrow.

the republican hopeful hasn't seen gloria cain since allegations of infidelity first surfaced monday. >> since i've been campaigning all week, i haven't had an opportunity to sit down with her and walk through this with my wife and my family. >> reporter: the onetime gop front-runner has denied having a 13-year affair and while he admits his financial contributions have taken a hit, most supporters appear to be sticking with him for now. newt gingrich has gained the most from cain's slip in the poll. now ahead of the pact, he is trying to win over tea party support taking aim at president obama. >> he stands for unemployment. at a values level, we stand for american exceptionalism of the dlars declaration of independence. >> reporter: the president is hoping voters will give him more time to turn the nation around. >> if you are willing to work harder in this election than you

did in the last election, change will come. >> reporter: supporters appear convinced. now as for cain looking at his schedule of campaign stops and new ads coming out, it looks like he is still pursuing his bid for the nomination, but republican operatives are saying his bid is over, whether he quits or not. terrell? >> we will know soon enough. susan mcginnis in washington this morning, thanks. herman cain has taken heat for his lack of foreign policy and national security. included is a world map entitled my assessment of our key country relations with labels for several nations. canada and japan are labeled friend and ally. egypt and pakistan, danger and opportunity. china is a competitor. and russia, arrival. president obama is pushing hard for an extension of the payroll tax holiday. the president warned of a

massive blow to the economy if republicans block it. but not boosting taxes on the very wealthy to pay for it. the ongoing scandal at penn state university. last night, penn state administrators participated in town hall meetings that were organized by students. the meeting was held soon after the first lawsuit was filed against former assistant football coach jerry sandusky. a lawyer for the unidentified plaintiff, now 29, says sandusky sexually abused him more than 100 times, starting when he was 10 years old. >> sandusky spotted him and spotted his promise and began to groom him, and that is what predators do. >> reporter: the suit also alleges sandusky threatened the boy's family to keep him quiet. the lights went out in parts of l.a. last night because of santa ana winds. passengers in the terminals had

to get around in the dark or just lie down and relax. a small plane taking off from boeing field in seattle last night, veered off the runway and hit a plane parked on the tar mark. two people were on board the plane taking off. a student pilot and his instructor. they both suffered minor injuries. john hinckley, the man who tried to assassinate president reagan will testify this morning. he was declared insane when he shot reagan in 1981. he wants to spend more time outside the washington mental hospital. but the government said he recently lied to cover up a trip to stores when he looked at books on reagan's presidential assassination. meeting with the iraqi prime minister, biden said, the withdrawal of u.s. troops by the end of the year, will usher in a new relationship between u.s. and iraq. earlier this year, baghdad and washington failed to come to an agreement keeping a small u.s. presence after january 1st.

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so you can quit one cigarette at a time. nicorette mini helps you go from one little win to another. until you reach your goal. nicorette mini. quit one cigarette at a time. oh, those wild and crazy aussies. night surfing on light surf suits off famed vonedy beach. the colorful event was to celebrate the first official day of summer down under. don't go for a dip. you might also considering getting a big boat. this is a great white shark caught on video posted online. notice he sure seems interested in the fishing boat and the potential snacks on board. the grammy award nominations are out this morning. the selection were announced at

a live concert performance last night that was right here on cbs. kanye west scored seven nominations to lead the pack. adele got six. the grammy awards will be february 12th in l.a. found an amazing drug smuggl smuggler's tunnel. the tunnel is the length of six football fields. manuel gallegus has more. >> reporter: it is being called the most elaborate and sophisticated drug tunnel. a 600-yard passage way linking tijuana and san diego. authorities recovered a total of 32 tons of marijuana. on the street, that's worth about 53.5 million dollars. it's one of the largest pot

busts in u.s. history. half of that haul was found in a san diego warehouse packed in boxes. the investigation began over the summer when agents believed the tunnel was still under construction. increased border security has forced drug cartels to come up with other ways to move their illegal merchandise. >> if they can't cross the border above ground, they attempt to tunnel underneath it. >> reporter: u.s. officials say the message to the cartels is clear. >> if you build it, we will find it. and when we find it, we'll destroy it. >> reporter: prosecutors say the real work begins now as they link the tunnel to a drug organization and move to dismantle it. manuel gallegus, cbs news. former county sheriff once named america's sheriff of the year is in jail in colorado charged with selling drugs that shocked his commute. the judge raised his bail to $500,000 and sent him to a jail named for him. the former arapaho county serve

is accused of offering methamphetamine in exchange for sex. a copy of the very first superman comic book, a rare first issue of action comics published in 1938 with a 10 cent cover price. it sold for $2.16 million. only about 100 copies are believe to still exist. makes you not want to throw away anything, right? straight ahead, your thursday morning weather. and in sports, a shoot-out in north carolina and a scary fall for a cheerleader in michigan. er ] take the fixodent 12 hour hold challenge. apply fixodent once, and it holds all day. ♪ take the fixodent 12 hour hold challenge. guaranteed, or your money back. ♪ pantene said, "breakage and split ends? get pantene breakage to strength." [ female announcer ] the keratin protection pro-v system

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got to go. priority mail flat rate shipping at usps.com. a simpler way to ship. here's a look at the weather in some cities around the country. time now for a check on the national forecast. the latest satellite picture shows scattered snow showers over the great lakes. the southern plains and southeast have clear skies. later today, snow will begin moving into the central rockies and even portions of the southwest. scattered snow showers will continue in the western great lakes area. and it will be sunny all along the east coast. in sports this morning, a top ten battle in college hoops. fifth ranked north carolina got 20 points from harrison barnes. the badgers made a comeback try in the fourth quarter but fell

short. in east lansing michigan, keith appling of michigan had 16 points. 65-49 over florida state. a time-out during the game. a michigan state cheerleader was injured. she was lifted in the air and fell hard to the court. taylor young was strapped to a backboard and gave a thumb's up. she was cheered by the crowd on the way out. she is hospitalized, but in stable condition. in the nfl buffalo wide receiver stevie johnson is out 10 grand this morning. the league find him for this. his over the top touchdown celebration and last sunday's loss to the new york jets. johnson was mocking jets receiver plaxico burress but pretending to shoot himself in the thigh. burress did just that in a new york city nightclub in 2008 and later went to prison for illegal gun possession. when we return, another look at this morning's top stories. and the amazing new contact lenses that not only help you see, they fight disease. ♪

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on the "cbs morning news" here is a look at today's weather. december starts with wind whipped snow blowing into the central rockies from the north. winds are also howling into the southwest and southern california up to 50 miles an hour. the western great lakes have scattered snow showers. here is another look at this morning's top stories. this morning, asian stocks are higher following yesterday's big wall street rally. the dow posted its seventh biggest advance of all time, over 4 0 points. stocks surged following a move by europe's central bank to ease the debt crisis. herman cain will decide next week to continue his campaign for the presidential nomination. the fda is reconsidering its standards for the level of arsenic in fruit juices and it follows a consumer report study that tested 88 samples of grape and apple juice.

10% had arsenic levels above the federal limit for drinking water. the government is looking at that with a oon to ordering a cut in such chemicals allowed in juice. >> we think that's especially important for children whose young, small bodies are growing and who are much more vulnerable to those exposures. >> reporter: lead is an issue too. it has more lead than allowed in bottled water. these are the sci-fi version that may replace how you take medications and access the internet. >> reporter: the way you watch tv and surf the net is about to change right before your eyes. >> you could be reading your e-mails while walking down your street. >> reporter: not on your hand-held device but in your contact lenses. it may look like sci-fi but this

is the future of contact lenses and it has nothing to do with correcting your vision. these new smart images contained led lights so you can read information in front of your eyes. coming soon to a lens near your favorite tv shows and web sites and that is not all. packed with circuits, sensors, and wireless technology, these smart lenses have been designed to keep an eye on your health. >> it allows for very noninva noninvasive continued monitoring of the blood system. >> reporter: which can also be found on the surface of the eye. >> i hate it. it hurts. >> reporter: diabetes sufferers could monitor their blood sugar without ever having to draw blood again. other smart lenses can diagnose

glaucoma, a leading cause of blindness. >> remember, glaucoma has no symptoms download the information wirelessly to its device and perhaps see how the eye has changed over the course of time. >> reporter: they won't only monitor a disease. these lenses will treat it as well. >> this lens has the ability to release medication to the eye for a long period of time. >> reporter: they are testing medicated lenses. the light brown ring in the center contains the drug. >> this object will be placed in the eye and the drug would just slowly leak out over time. >> that was maurice duvo of wcbs reporting. the annual tree light at rockefeller center, but the radio city rockettes providing the kickoff. >> 5-4-3-2-1! >> there it is! tens of thousands of people

packed in to get a look. the tree has 30,000 lights that run five miles long and it will be on every night until january 7th. you got to love it. starting to look a whole lot like christmas. honestly, the tree looks bigger on tv. i saw it the other day. beautiful sight, though. . i'm terrell brown. and this is the "cbs morning news." [ male announcer ] all over the world, i'm terrell brown. and this is the "cbs morning news." holiday joy. of course, children don't really think about which battery makes their toy run, but, still, you'd never want to disappoint. duracell. trusted everywhere. with crest 3d white professional effects whitestrips. it penetrates below the enamel surface to whiten as well as a $500 dentist treatment. the secret's in the strip. crest 3d white professional effects whitestrips. life opens up when you do. ♪ a little rendezvous ♪ that special something

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good morning and welcome to 9news now. it is a new day and a new meteorological season. it is december 1st. winter is here. i'm andrea roane. >> i'm jessica doyle in for mike hydeck. fourth best of the day of the week. thursday. monika samtani has your timesaver traffic in a second. we're going to begin with howard. >> and making -- >> sunday, saturday -- or saturday, sunday, friday, thursday. >> that's how i think. >> i never thought of it that way. >> it is cold today. 30s in most areas right now. a little bit of a breeze still this morning. some wind chills in the 20s. as andrea said, meteorological winter begins today. december, january, february is meteorological winter. but of course, it is around the 21st, 22nd for astro nomical winter to begin. highs today lower 50s, some spots may get toward 55 south of town. low 50s with clear skies and northwesterly winds later on. a little bit lighter at about 10 miles per hour. had some clouds yesterday

afternoon and evening. they stay in the mountains. generally, a dry day we had. we'll have seen all of the clouds lift except for what's now in the mountains. it does appear we'll be sunny today and chilly. mid-30s in the shenandoah valley. 30 in petersburg, west virginia. it is 40 down in southern maryland and in town, we've got 39 with wind chills this morning running in the upper 20s to mid-30s. bundle up. the highs getting generally in the low 50s. good morning, monika. the fourth best day of the week. >> good morning. next to the first best day of the week was it, jessica? friday is good for me, too. everything is looking great all around the beltway. we'll zoom into 95 and take a live look in springfield on the northbound side of i-95 north of dumfries, overnight construction along the left side of the roadway. be aware of that. i don't think it is causing any problems right now. let's go over to route 50 in maryland. i just got off the phone with the operations center over at the bay bridge. this is west of the bay bridge

here. eastbound span is closed with overnight construction. you'll be sharing lanes with the westbound side without a delay right now. now, we'll go over to 270 not looking bad in the gaithersburg, rockville area down to old georgetown road where construction is clearing up. coming up, we'll go into virginia at 4:39. back to you, andrea and jessica? >> herman cain says he will decide by next week whether to continue his white house bid. yesterday, cain said he wouldn't drop out because of accusations of infidelity. >> he says he must dishouse matter in person with his wife before making any decisions. susan mcginnis has more. herman cain isn't ready to call it quits. >> it ain't over until it's over. >> wednesday, he told new hampshire supporters he'll decide whether to continue his white house run after talking to his wife in person tomorrow. the republican hopeful hasn't seen gloria cain since

allegations of infidelity first surfaced monday. >> since i've been campaigning all week, i haven't had an opportunity sit down with her and walk through this with my wife and my family. >> the one-time g.o.p. front-runner denied having a 13-year affair. while he admits his fund- raising contributions have taken a hit, most supporters appear to be sticking with him for now. newt gingrich has gained the most from cain's slip in the polls, now ahead of the g.o.p. pack, the former house speaker is trying to win over tea party support taking aim at president obama. >> he stands for unemployment. at a values level, we stand for american exceptionalism, the declaration of independence. he stands for some weird european internationalist elitist secular mod that will doesn't work. >> the president is hoping voters will give him more time to turn the nation around. >> if you're willing to work harder in this election than you did in the last election, change will come. >> core supporters appear

convinced. last night alone, he raked in more than $2 million at three new york city fund-raisers. susan mcginnis for cbs news, washington. virginia attorney general ken cuccinelli will run for governor in 2013. the tea party hero gained national attention for suing the federal government over the new healthcare law. cuccinelli is not expected to make a formal announcement until after the legislative session in the spring. if he runs, cuccinelli could face a republican primary battle against lieutenant- governor bill bolling. wednesday was a good day for crime-fighters. this wednesday, stephanie lynn schwab is in jail. the 26-year-old is a suspect in several bank robberies and carjackings in northern virginia and baltimore county. officers say schwab had tried to rob another bank in mclean when they tracked her down. sky 9 was over the scene when fairfax county police caught her. she led them on a chase into maryland before crashing into old georgetown road at i-495. police say the car she